Medical Billing Software/Practice Management System – New Features to Look for in Your Next System
New features can benefit you with a more efficient practice, lower costs, and increased cash flow.
Medical Billing Software and Physician’s Practice Management Systems (www.daqbilling.com) are the best tools you can use to improve the financial health of your practice. Use one to gain full control over your finances, and grow your business. Cutting-edge medical billing technology can significantly reduce time and costs spent processing claims. Not only will you have a better understanding of the health of your practice, but, cash flow will increase and costs decrease.
Recent advancements include:
1. instant access from anywhere, even away from the office
2. manage multiple offices and functions from one database
3. enhanced scanning – electronically file all claims; even those needing supporting documentation attached.
4. rules engines to identify errors before submitting the claim
5. increased security; fully compliant with new HIPAA standards
6. electronic patient statements
7. electronic remittance advice can eliminate hours of labor posting payments
ASP (Application Service Providers) – based medical billing software allows you to monitor your practice and stay connected anywhere you have an internet connection, even on your laptop. Multiple locations access the same database. Multiple workstations incur no additional cost. Because your information is stored offsite, minimal memory is needed. A quick download from the internet with your username and password, and you are ready to begin. No complex networking or hardware installations are required.
Easy to Use
Accounting is easy. From the comfort of your chair, monitor your staff to see what claims have been entered, and submitted by day, week or month. Know exactly what has or has not been paid. Medical billing software is so easy to use, a user can be fully trained and processing claims in just a day or two.
Built in Efficiencies
Your staff can be more efficient and less stressed using an intuitive medical billing software system. You may even find your staff can cut time spent on billing chores by up to 30%, so that they have more time to focus on patients and collections.
A collection of insurance payer rules is incorporated so that users can immediately identify and correct claim errors that would delay payment of claims. Some systems allow you to send claims directly to most insurance carriers using a clearinghouse. Carriers can respond immediately so you get faster payouts; most within 14 days. Practice Management Systems can also reduce staff workload by outsourcing the print and mail functions of processing patient claims and statements.
When supporting documentation is needed in order for a claim to be paid, the system can attach scanned letters of medical necessity, accident reports, referral authorizations, worker’s compensation documents, and most importantly EOBs. This eliminates the need to photocopy paperwork and perform chart pulls later if there are any questions on the claims.
When using the internet, many users are concerned about security. A well established vendor addresses these concerns on multiple levels. Just like banking at an ATM, all data is encrypted during transmission and is protected by a username and password.
Furthermore, all data and servers are backed up by expert IT staff at the data center. Redundant HIPAA-compliant servers, with backups in different locations, insure data recovery in case of disaster.
Low Cost of Entry/Low Cost of Ownership
What is becoming standard in ASP-based medical billing software is subscription style pricing, and low upfront cost which cover implementation and professional fees.
You owe it to yourself to upgrade your medical billing software or practice management system to take advantage of these new features. The cost savings will easily justify the upgrade.